State & Local Tax
Los Angeles City Business Tax: What You Need To Know
Companies and individuals doing business in the City of Los Angeles and its neighboring cities may find themselves subject to the annual Los Angeles City Business Tax (LACBT), due on…
Read MoreNew Portland Tax Alignment for City, County, and Metro Approved
The Portland City Council recently voted to simplify the sales factor apportionment for businesses in the area. These approved changes would allow Portland, Multnomah County, and Metro taxing authorities to…
Read MoreCalifornia Makes Favorable Changes to the Pass-Through Entity Tax
Summary Since the passage of the Tax Cuts and Jobs Act (TCJA) in 2017, individuals who itemize their federal tax deductions have been limited to a $10,000 deduction for state…
Read MoreCalifornia Unclaimed Property Tax Compliance
Summary Beginning in 2022, the California Franchise Tax Board (FTB) will require most businesses to disclose the status of their unclaimed property compliance on their business tax returns. This information…
Read MoreNew Oregon Pass-Through Entity-Level Business Alternative Income Tax
Senate Bill 727 (SB 727) was introduced as Oregon’s response to the enactment of The Tax Cuts and Jobs Act (TCJA) and the IRS Notice 2020-75. TCJA imposed a limit…
Read MoreOregon State Tax Updates
Here are the latest news and updates on Oregon state and local tax. New Pass-Through Business Alternative Income Tax Signed by Oregon Governor in July of 2021, S.B 727…
Read MoreMultnomah County Preschool Tax Q&A
Personal Income Tax Questions & Answers What are the income thresholds for taxation? Single filers – all Oregon taxable income over $125,000 is taxed at a 1.5% rate. All…
Read MoreSan Francisco Voters Approve Increase in Gross Receipts Tax and New Tax on CEO Pay
On November 3, 2020, San Francisco voters approved two new tax measures impacting corporate taxpayers. Both measures were passed by voters with overwhelming majorities. Proposition F, or the Business-Tax Overhaul,…
Read MoreMultnomah County Voters Reject Metro Payroll Tax; Approve Universal Preschool Measure
Portland-area voters rejected the Metro Council’s payroll tax on employers (Measure 26-218). The measure failed by a 57% to 43% margin. Conversely, Multnomah Country approved the Preschool for All Program…
Read MoreTemporary California Net Operating Loss Suspension Signed into Law
History California has at times either restricted the ability of individuals and corporations to utilize the full carryover amount of net operating losses (“NOLs”) or completely suspended net operating loss…
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